Registered Representative Salary
With the highest median pay of $70K, very senior Registered Representatives make much more than the national average ($44K annually) for those in this field. Salaries for the relatively untried average out to around $43K, but survey participants with five to 10 years of experience earn a significantly higher median of $53K. People with 10 to 20 years of experience make an average of about $58K in this role. Average wages for folks with more than 20 years of experience come out to around $70K. The numbers in this rundown were provided by PayScale's salary survey participants.
Job Description for Registered Representative
Managing investments and securities exchanges is a complicated and byzantine process. There are many rules that must be followed closely and the entire process is overseen by huge government bureaucracies, and this is why most people hire brokers to do their business for them. "Registered representative" is a very literal job title: commonly known as "stockbrokers," they are licensed by the United States Securities and Exchange Commission, as well as self-regulatory agencies such as the New York Stock Exchange, to represent their clients in the purchase, sale, and management of securities.Read More...
Registered representative do not only buy and sell; they are highly-qualified agents who also handle transactions involving insurance, futures, and other tradeable commodities. Other parts of the job involve using their understanding of market activity to provide investment advice to clients, managing and monitoring existing investments, and acting on behalf of clients to make the financial moves they desire.
Registered representatives may work independently or as members of investment firms. They must be detail-oriented individuals who constantly monitor securities markets and possess the understanding of this activity to make sound investment decisions, as well as a strong sense of timing to make the right moves at the right times. A bachelor's or master's degree in a financial field and the licensing mentioned above are generally required for this position.
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Popular Employer Salaries for Registered Representative
Charles Schwab & Co., Inc. offers the lowest pay in the field with a median salary of just $42K. There's also little variation in pay at the company, with pay ranging from $37K to $62K.
Pay by Experience Level for Registered Representative
Median of all compensation (including tips, bonus, and overtime) by years of experience.
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Key Stats for Registered Representative
Rated 5 out of 5
based on 17 votes.